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Ordained Minister of the Presbyterian Church of Ghana (PCG) and lecturer at the Kwame Nkrumah University of Science and Technology (KNUST) Kumasi, Reverend Dr Kwabena Opuni-Frimpong said the country's churches needed to be held responsible for the steady fall of the cedi against major trading currencies.
In an interview with Odame Agyare on the "On Point" show, he said that the cedi's badysis shows that the currency depreciates slightly due to churches that generally convert the local currency into dollar.
Dr. Opuni said that the churches operating in Ghana and whose headquarters are based abroad converted their offerings and their tithes into dollars before transferring them via exchange accounts, which seriously threatened the cedi compared to the dollar.
"Many churches in Ghana do not have their headquarters here, so their collections, their offerings, and their tithes are converted into dollars and transferred to foreign exchange accounts, and some even put money into car tires before sending them, there should be a check of the activities of some churches, "he hinted.
The local currency is still struggling to stabilize against major international currencies such as the US dollar, currently selling at 5.86 GH ¢ per dollar.
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